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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
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